Soybeans Lower at Midday

Soybeans futures are trading 11 to 12 cents lower. Meal futures are down $2.30/ton and soy oil 50 points lower. Areas of dryness shrank over the weekend in the ECB, with up to 2.5 inches reported in western Ohio and 1+ inches in northern IL. It was T-storm activity, so not everyone got it, but some of the pockets on the Drought Monitor got meaningful rain. This morning’s Export Inspections report indicated that 1.16 MMT of soybeans were shipped in the week that ended on August 15. That was a 22% higher from the week prior, and a 75% increase over the same week in 2018. A total of 551,235 MT was headed to China. Friday’s report showed money managers reduced their CFTC net short positions this week to 66,450, a decline of 9%.

SEP 19 Soybeans are at $8.55 1/2, down 11 3/4 cents,

NOV 19 Soybeans are at $8.67 3/4, down 12 cents,

JAN 19 Soybeans are at $8.81 1/2, down 12 cents,

MAR 20 Soybeans are at $8.95, down 11 1/2 cents,

SEP 19 Soybean Meal is at $292.60, down $2.30,

SEP 19 Soybean Oil is at $28.63, down $0.50

--- provided by Brugler Marketing & Management

Market Commentary provided by:

Brugler Marketing & Management LLC
1908 N. 203rd St.Omaha, NE 68022
Phone: 402-697-3623
Fax: 402-289-2353

Did you know Brugler Marketing & Management has more to offer to you than just this free daily commentary?! Producers just like you rely on our custom research and daily guidance on when and how to market their commodities. Click here to learn more about what we have to offer, or call 402-697-3623. Do it today!

Do you want to know what trades Alan Brugler recommends? Subscribe to Ag Market Professional, and become part of the Brugler client group! Not sure? Ask for a FREE SAMPLE and get two FREE GIFTS! Start here

Want this Ag News delivered to your inbox? Get the FREE Brugler Ag Newsletter, delivered 3 times daily.